Vancouver — Drilling at
The final round of definition work tested the western portion of the Quebrada del Diablo (QDD) zone and returned wide intercepts of gold mineralization.
Among the highlights was hole 99, which cut 60 metres (from 120 metres) averaging 2.8 grams gold per tonne, including 16 metres of 6.41 grams gold and 4 metres of 14.62 grams. The hole was one of the lowest topographic intersections so far encountered in the deposit
Hole 101, A 124-metre interval (from surface), returned 0.8 gram gold, including sections of 16 metres of 1.42 grams, 24 metres of 1.07 grams gold, and 14 metres of 1.34 grams.
The latest round of drilling occurred on the western edge of the deposit, which remains open toward the west.
A couple of the holes encountered wide zones of mineralization starting from surface.
With the drill program now concluded, a revised resource calculation of the project is under way.
Results from the last five exploratory drill holes of the latest program also delivered positive results. The stepout holes tested for extensions of mineralization at four zones: Target 3D, Tunnel D, Magdalena, and Target 11.
The most notable result was hole 104, on the eastern extent of Magdalena, which cut three mineralized intersections. An 8-metre section (from 86 metres) averaged 2.25 grams gold, and this was followed by an 18-metre intercept (from 128 metres) of 1.27 grams gold and a 28-metre intersection (from 158 metres) of 2.91 grams. The hole indicates at least 200 metres of easterly extension of previously encountered high-grade mineralization.
The QDD deposit has an indicated resource of 12.7 million tonnes grading 1.17 grams gold and an inferred resource of 22.5 million tonnes grading 1.02 grams gold at a cutoff grade of 0.6 gram. Gold mineralization is hosted in stockwork-fractured carbonates, carbonate breccias and intrusive breccias.
Viceroy Exploration was formed in late 2003 as a spinoff company to hold the Argentine mineral assets that resulted from the reorganization of Viceroy Resource, now
Viceroy has 28.7 million shares outstanding and recently traded in the $1.20-1.30-per-share range.
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